The Italianate-style home in Montecito, Calif., was originally listed for $52 million. Mr. Snider died at age 83 in 2016

The Montecito, Calif., estate of the late Philadelphia Flyers owner Ed Snider has sold for $35 million, more than a 30% discount from its original $52 million asking price, according to two people with knowledge of the deal.

The sale is one of the most expensive in Montecito in recent years, according to appraiser Jonathan Miller. The area is home to celebrities such as Oprah Winfrey and Ellen DeGeneres and was hit hard by the recent California mudslides.

The roughly 9.4-acre estate has views of the ocean and mountains. The Italianate-style main house was built by Mr. Snider around 2001 and measures about 21,300 square feet, with eight bedrooms. It has a swimming pool with a cabana, a tennis court, a pavilion with a wet bar and a two-bedroom guesthouse, according to the listing.

Mr. Snider bought the property in 1994 and later added additional parcels for privacy.

After his death at age 83 in 2016, his estate listed the home for $52 million. Later, the price was dropped to $48.5 million. It was taken off the market and then relisted for $45 million in October 2017.

Mauricio Umansky and Santiago Arana of the Agency represented the estate in the sale. Kurt Rappaport of Westside Estate Agency represented the buyer. An attorney for the Snider family was not immediately available for comment.